Gross Domestic Product of Belgium fell 12.1 in the second quarter of 2020 compared to the previous quarter. The government is borrowing heavily to help the economy out of one of the sharpest recessions in the world in 2020. The country's gross domestic product grew 10.7% compared with the previous quarter, according to the central bank. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison.

Belgium Economic Growth GDP is seen recovering next year as decreasing uncertainty stemming from the formation of a new government, and the lessening impact of the pandemic, should lead to a recovery in investment and private consumption. 1980-2020 Data | 2021-2022 Forecast | Calendar | Historical. Gross National Product in Belgium decreased to 106045.80 EUR Million in the second quarter of 2020 from 110364.70 EUR Million in the first quarter of 2020. Year-on-year, the economy shrank 3.6 percent, the most Q2 2009, below a preliminary estimate of 3.9 percent and following a 0.5 percent growth in the prior period.

In 2008, the per capita income (PPP) was $37,500. World … It was the first quarterly contraction since Q1 2013 and the sharpest on record, amid the coronavirus crisis. GDP fell 5.2% on year in the third quarter on a calendar and price-adjusted basis, the National Bank of Belgium said. The Trading Economics Application Programming Interface (API) provides direct access to our data. Ideological differences within the coalition will complicate the implementation of structural reforms. Belgium’s GDP contracted 3.9 percent on quarter in the three months to March 2020, after expanding 0.5 percent in the previous period and worse than market expectations of a 3 percent decline, preliminary estimates showed. At the same time, public spending declined 8.3 percent, while net external demand contributed positively to the GDP as imports fell more than exports. Following the revision, Belgium's GDP contracted 11.8% in the second quarter compared with a first estimate of a 12.2% decline. … Most American countries use a national income accounting standard that fails to record the informal economy.

Download historical data for 20 million indicators using your browser. Belgium has a quarterly GDP per capita, of €8,769$8,769, less than the same period last year, when it was €10,287 $10,287 . -tenths of one percent less than in the previous quarter, when changed -3.5%. Year-on-year, the GDP shrank 2.8 percent, the most since Q3 2009 and following a 1.3 percent advance in the previous quarter.

Gross Domestic Product of Belgium fell 12.1 in the second quarter of 2020 compared to the previous quarter. Data Source: World Bank Belgium GDP (Gross Domestic Product) was INT$482.95billion for 2019 in PPP terms. The eurozone's sixth largest member is usually one of the first to report economic growth in a quarter.

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